The global advertising industry will surpass $1tn in revenue for the first time this year, with Google, Meta, ByteDance, Amazon and Alibaba expected to earn more than half the total in a market dominated by the technology sector. GroupM, the media agency owned by WPP, estimates that global advertising revenue will increase 9.5 per cent in 2024, more than it had expected at the mid-year point, despite tough economic conditions in larger, developed markets such as the US and UK.
4 per cent globally in 2024 and 10 per cent in 2025 — or 82 per cent when including revenue from streaming and digital newspapers and magazines. Traditional advertising channels such as television, print and radio are suffering from the dominance of digital options. Globally, total print advertising revenue will decline 4.5 per cent in 2024 and a further 3 per cent in 2025, audio revenue will remain flat next year, while TV, including both linear and streaming, is forecast to grow just 2.